Bastian Wurm, Christian Matt, Alexander Benlian, Thomas Heß
Abstract Digital transformation is strategically important for organizations. To accomplish successful digital transformation, organizations must develop appropriate digital transformation strategies that serve as a blueprint and set the overall direction of their digital transformation. The widely cited digital transformation framework by Matt et al. (2015) underscores the role of digital technologies in transforming value creation and organizational structures within the context of an organization’s financial situation. Over the past decade, organizations have gained considerable experience in developing and executing digital transformation strategies. Recent technological developments, particularly in artificial intelligence, and the discourse around the role of identity in digital transformation, necessitate a reexamination of this framework. In the face of these developments, we analyze three successful digital transformation cases to put the framework to the test. As a result, we propose a revised framework for digital transformation strategies. In particular, we ground the model in the logic of digital innovations and suggest identity as a new central dimension. Based on the revised framework, we discuss several opportunities for future research. Our work is relevant to the discourse on digital transformation strategies as well as to corporate decision-makers who oversee or engage in digital transformation initiatives.